Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD XX Billion | USD 7.97 Billion | 42.30% | 2023 |
The global 6G market size was worth around USD XX billion in 2023 and is predicted to grow to around USD 7.97 billion by 2032 with a compound annual growth rate (CAGR) of roughly 42.30% between 2024 and 2032.
The sixth generation (6G) is the successor of 5G cellular technology. According to market research, 6G wireless systems will be commercially available by 2030. The technology utilizes frequencies higher than 5G networks with key features such as lower latency and higher capacity. One of the key milestones that 6G providers plan to achieve is one-microsecond latency communications.
Furthermore, the commercial launch of 6G-powered systems is also expected to impact improvements in location awareness, presence technology, and imaging with extensive end-user applications. The development of other ancillary technologies such as Artificial Intelligence (AI), advanced robotics, and the Internet of Things (IoT) will also aid extensive revenue in the 6G industry during the forecast period.
Following market analysis, consumers of 6G can expect core and edge computing as an integrated solution of the computation and communications infrastructure thus supporting the development and use of highly advanced mobile systems and devices. The growing investments in 6G infrastructure among major economies are expected to fuel the industry’s revenue rate during the forecast period. However, 6G-enabled information technology (IT) and communications infrastructure will take more than5 years to become as commercially viable as 5G and 4G.
6G Market: Growth Drivers
Surging development of smart cities worldwide will drive the market demand rate
The global 6G market is projected to grow due to surging development in the smart cities sector across the globe. Recent trends and research indicate the massive growth in investments directed toward not only developing smart cities but also improving the overall efficiency of these facilities.
A smart city is defined as an urban area that leverages advanced technologies and solutions to improve the overall living standard and quality of life of the citizens. Smart cities are designed to improve the comfort of the residents while also ensuring responsible and sustainable use of resources. Key areas that are essential to establishing a smart city include improved transportation, enhanced healthcare, and better social security-related parameters.
Developments in 6G can help improve the performance of the overall smart city infrastructure by allowing quick communications with minimal latency and broader connectivity across billions of devices. Furthermore, 6G solutions can also assist in making remote surgery a reality on a mass scale.
In October 2024, the European Union awarded the EU Mission Label to around 20 cities that have participated in the region’s EU Mission for Climate-Neutral and Smart Cities project. The Label is designed to assist cities in achieving carbon neutrality by 2030 by providing access to increased funds.
Increased industrial automation and advancements in edge or AI computing to generate demand for 6G
The growing rate of industrial automation with the integration of advanced robotics and other automated solutions for carrying out business operations is likely to directly impact the demand for 6G connectivity. The industrial automation rate has been growing in the last few years, especially with the launch of semi and fully-automatic robots that can be used alongside human resources to perform several tasks across industries. The solutions available in the global 6G market will allow higher efficiency and faster adoption of industrial automation and robotics.
In addition to this, edge and AI computing solutions have been gaining growth momentum. Edge computing is defined as a distributed computing framework. It stores and processes data closer to the device instead of using a server for performing these tasks. In July 2024, NTT DATA, a leading IT company, announced the launch of a new ‘Edge AI’ tool that is expected to accelerate the developments in Information Technology/Operational Technology (IT/OT) systems by processing AI to edge systems.
High cost of investment and technology complexities limit the industry’s expansion trend
The global industry for 6G is projected to be restricted due to the high cost of investment associated with the development of sixth-generation connectivity technology. For instance, the deployment of a large-scale infrastructure powered through 6G will require massive investments in the form of new-age antennas, towers, and fiber optic cables.
Furthermore, industry experts claim that 6G infrastructure will further pressurize the energy industry to meet the requirements of the industry. 6G technology is highly complex to develop. The lack of sufficient skilled resources may further inhibit the overall growth margin in the industry.
Growing government support to generate growth opportunities in the future
The global 6G market is expected to generate growth opportunities due to the rising support from the government worldwide. Regional leaders and private companies have launched several research programs to accelerate the development and end-user application of 6G solutions.
In November 2024, the US government announced an award of USD 6.6 billion to TSMC Arizona Corporation (TSMC Arizona). It is a subsidiary of Taiwan Semiconductor Manufacturing Company Limited (TSMC). The funds are allotted under the CHIPS Incentives Program through which the country seeks to encourage the development and production of advanced semiconductor technology in the US.
According to official reports, TSMC-owned three semiconductor fabrication facilities are expected to produce 5G/6G smartphones, high-performance computing & AI applications, and autonomous vehicles in large volumes. Similarly, in September 2024, the Chinese government launched three critical 6G technology standards through the International Telecommunication Union (ITU). The move has helped the country take a major leap toward shaping the global framework surrounding future telecommunication technologies.
Lack of global standards and ensuring data privacy are crucial challenges for the market players
The global industry for 6G is expected to be challenged by the lack of clearly defined global standards regulating the research & development of 6G systems. Moreover, companies providing 6G technology must develop highly robust data privacy measures as confidential information will be processed at a faster rate using the novel engineering marvel.
Report Attributes | Report Details |
---|---|
Report Name | 6G Market |
Market Size in 2023 | USD XX Billion |
Market Forecast in 2032 | USD 7.97 Billion |
Growth Rate | CAGR of 42.30% |
Number of Pages | 221 |
Key Companies Covered | Jio (Reliance Industries), Samsung, Google, Vodafone Group, Nokia, NEC Corporation, Broadcom, Ericsson, Qualcomm, ZTE Corporation, Huawei, Orange, AT&T, NTT Docomo, Cisco., and others. |
Segments Covered | By Application, By Component, By Communication Infrastructure, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
The global 6G market is segmented based on application, component, communication infrastructure, and region.
Based on the application, the global market segments are the Internet of Everything (IoE), digital twins, wireless brain-computer interactions, multisensory XR applications, smart cities, blockchain & DLT, and others. In 2023, the highest demand was listed in the Internet of Everything (IoE) segment. It is the advanced version of IoT connecting data, processes, devices, people, and other intelligent solutions. The IoE concept can gain growth momentum with the launch of 6G solutions offering never-seen-before services. In 2023, the global IoE market was valued at over USD 500 billion.
Based on the components, the global 6G industry is divided into software and hardware.
Based on the communication infrastructure, the global market segments are fixed and wireless. In 2023, the highest investments were directed toward the wireless segment. One of the fundamental parameters of 6G infrastructure deals with developing extensive wireless connectivity connecting large volumes of digital devices, people, and information. The increasing launch of new automotive vehicles, smart city projects, and faster communication systems will create higher revenue in the wireless segment. In 2023, the industry for wireless connectivity was valued at more than USD 118.5 billion.
Asia-Pacific to be led by China, India, and South Korea during the forecast period
The global 6G market will be led by Asia-Pacific during the forecast period. Countries such as China, India, Taiwan, and South Korea are likely to assert their dominance during the projection period. For instance, as of 2022, China has made several advances in the 6G network and infrastructure.
In February 2024, China Mobile, one of the world’s largest telecom companies, announced that it had launched the first-ever satellite for the testing of 6G infrastructure. Following the reports, the launch can be considered as a crucial step undertaken by the company toward technology that assists the exploration of integrated space and ground communication technologies.
In October 2024, China Mobile made the news yet again with the launch of the 6G baseband concept prototype system to be used for the Sub-7 GHz frequency band. According to industry experts, it is a crucial component for the company’s public testing device.
In May 2023, Capgemini, a European IT firm with a global presence, launched a 6G research laboratory in the Gurugram region of India. Such advancements in the regional economy will generate more revenue for the 6G sector in Asia-Pacific.
The global 6G market is led by players like:
The global 6G market is segmented as follows:
By Application
By Component
By Communication Infrastructure
By Region
FrequentlyAsked Questions
The sixth generation (6G) is the successor of 5G cellular technology.
The global 6G market is projected to grow due to surging development in the smart cities sector across the globe.
According to study, the global 6G market size was worth around USD XX billion in 2023 and is predicted to grow to around USD 7.97 billion by 2032.
The CAGR value of 6G market is expected to be around 42.30% during 2024-2032.
The global 6G market will be led by Asia-Pacific during the forecast period.
The global 6G market is led by players like Jio (Reliance Industries), Samsung, Google, Vodafone Group, Nokia, NEC Corporation, Broadcom, Ericsson, Qualcomm, ZTE Corporation, Huawei, Orange, AT&T, NTT Doc4748omo and Cisco.
The report explores crucial aspects of the 6G market including detailed discussion of existing growth factors and restraints while also browsing future growth opportunities and challenges that impact the market.
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